German regulator updates governance requirements for pension plans
Three new circulars concern members of management and supervisory boards
Dutch pension fund PMT sells most fossil fuel holdings
Metals industry scheme remains invested in nine oil and gas companies with ‘sufficiently convincing plans’ for the energy transition, including Shell
Church of England Pensions Board outlines strategic plan to reach climate transition goals
CEPB’s climate action plan focuses on key systemic risks like demand for fossil fuels, corporate climate lobbying, climate finance in emerging markets, says Adam Matthews
Thales Pension Scheme secures £2.7bn buy-in with Rothesay
The transaction secures benefits of over 16,000 members – 10,512 pensioners and dependants as well as 5,915 deferred members
German doctors’ scheme spots investment opportunities in energy infrastructure
‘We currently have more investment opportunities than available cash,’ says ÄVWL CEO Christian Mosel
Investor coalition calls for phase out of unequal voting rights
It made recommendations to phase out dual-class structures tailored at different financial market participants
ISSB: Scope 3 emissions emerge as key challenge
ISSB’s Transition Implementation Resource Group will aim to understand what challenges constituents are facing and attempt to avoid diversity in practice
AP7’s coal blacklist grows again, while ban on other stocks expires
Swedish pensions default fund describes blacklisting as engagement tool
German actuaries propose maximum interest rate increase on pension products
The increase, of 1% from 2025 from 0.25% currently, is the fist increase in three decades
Brunel Pension Partnership achieves 75.4% reduction in reserves intensity
The investment pool will work closely with S&P to help with scenario analysis for physical climate risk
Austrian pensions veteran calls on industry to support PensionsEurope
Johannes Ziegelbecker said SFDR, DORA and FIDA were ‘horizontal legislations’
Investors coalition creates platform to strengthen human rights stewardship
Labour Rights Investor Network demand oversight over labour rights by senior management of investee companies
Net zero alignment commitments shoot up for UK pension funds
The percentage of UK pension funds with net zero commitments increased from 57% last May to 68% this year
IPE Conference: Asset managers urged to implement diversity policies
More diversity on decision-making panels leads to better investment decision and even outperformance of peers
Skandia stows $100m in Dutch-backed sustainability blended-finance fund
Swedish pensions firm praises ‘innovative’ structure of SDG Loan Fund for easing flow of institutional money to developing countries
French dashboard to join European pension tracking service
The dashboard in France covers all pillars of the country’s pension system, with 42 pay-as-you go service providers and 100 private pension organisations on board
IPE Conference: Pension fund CIOs keep faith in alternatives
CERN pension fund and Denmark’s Industriens Pension still see opportunities in private assets
People moves: UK’s NEST appoints public and private markets director
Plus: BT Pension Scheme’s Brightwell names head of business development; Nuveen expands global responsible investment strategy and stewardship teams
IPE Conference: ‘Investors need to ensure companies play by the rules set by societies’
Investors should support the minimum tax rate deal struck in 2021, for example, said the founding chair of Norway’s sovereign wealth fund
EBRD starts process to rebuild Ukraine calling on investors
Key priorities for the war-torn country are keeping up economic growth and establishing a defense industry
ATP boasts that its strength allows 3% uprating, but for pensioners only
Manager of Denmark’s statutory scheme admits latest discretionary annual increase is well below the 10% inflation Danes had to cope with in 2022
Level of ‘sustainably’ invested in European assets falls below 40%
‘Greenhushing’ on the rise, according to Global Sustainable Investment Alliance
UK pension funds align impact investing with fiduciary duty
Research from Pensions for Purpose shows impact investing and fiduciary duty are not mutually exclusive
Investment decisions should not be deferred to members, says conference panel
While some savers believe they are ‘competent enough’ to make investment decisions, they still want someone else to take care of their money, says AP7’s Gröttheim
Advice on IORP II revisions won’t help increase cross-border pensions, associations say
EIOPA’s latest report confirms lack of cross-border activity in Europe
IPE Awards: APG wins European Pension Fund of the Year
Else Bos and Richard Gröttheim take this year’s Outstanding Industry Contribution award
UK regulator finalises labelling regime for sustainability funds
After roughly a year of consultation with the market, the FCA has made a number of changes to the rules
Norway’s SWF sets out plan to become $40-70bn private equity investor
Tangen says now is very good time to start building private equity portfolio, with discounts available in secondary market
BpfBouw crowned most sustainable Dutch pension fund
The scheme for the Dutch construction sector has taken the first place from ABP
Impact Disclosure Taskforce created in bid to scale financing of UN SDGs
Guidance to be drafted with aim of helping corporates and sovereign entities provide disclosures helpful for accessing pools of capital
Trustees expect more from new bulk annuity market entrants
Trustees now assess insurers on financial strength, ESG factors, administration capacity and quality, buyout capabilities, and brand awareness
German government cuts funds for first pillar reform
Move comes following a Constitutional Court ruling clarifying ‘debt-brake’ rules
Trustees considering capital backed journey plan urged to engage with regulator
The Pensions Regulator set out expectations for trustees considering capital backed journey plan
Sovereign wealth funds take record share of global asset ownership
Pension funds only just retain the majority share of AUM among the largest 100 asset owners, according to Thinking Ahead Institute study
Sudden exit for Alecta’s legal chief as troubled giant gives legal more focus
Swedish pensions firm announces reorganisation aimed at clarifying division of responsibilities
SBTi seeks financial institutions to pilot updated near-term criteria
Interest needs to be submitted by 14 December
Smart Pension to provide pension to 62,000 ISS UK employees
Appointment represents £200m in assets under management moving to Smart Pension
Swiss government reviews first and second pillar pensions
In the second pillar, the reviewed ordinance clarifies the definition of pensioners’ portfolios
Uncertainty must ‘take centre stage’ in climate scenario advice to trustees
Failure to communicate uncertainty in damage estimates ‘the most glaring flaw in the advice’
Pension reform to continue despite election result, says Dutch minister
According to Carola Schouten, pension funds and their administrators must continue preparing for the switch to DC
Boots pension scheme completes largest single transaction with L&G
The deal secures benefits of all 53,000 retirees and deferred members of the scheme
Social partner model on track to expand to ceramics, glass, paper industries
Over 50 companies have already joined the social partner model in the chemical industry
GRI seeks comments on draft standards to enhance climate action transparency
The consultation comes on the eve of the United Nations COP28 climate change summit
German baking industry starts DC options via BVV Pensionsfonds
The introduction of pure DC options – BVV.MAXRENTE – comes after more than three and half years of negotiations
Co-op pension fund insures remaining £4bn of liabilities
The transaction secures benefits for almost 50,000 members
ERAFP names 11 winners in multi-billion equities hiring spree
Amundi and BlackRock were among 11 winners in a European and Japanese equities hiring process by the French civil service pension scheme
Germany’s Growth Fund raises €1bn with Allianz, BlackRock, Generali backing
Over 20 institutional investors allocated capital to the fund, investing in German and European venture capital and venture debt funds
UBS to examine integration of Credit Suisse pension fund
Credit Suisse Pensionskasse has a funding ratio of 124.2%, CHF17bn assets under management, and over 16,000 members
SEI completes acquisition of National Pension Trust
The deal, which had a total cash value of £42.5m, follows recent expectations of an accelerated consolidation of the master trust market
UK’s Autumn Statement proposals encourage DB schemes to run on
Chancellor announces consultation on changes to rules around DB scheme surpluses and tax rate reduction on surplus extraction
